New World China Land purchases domestic properties at HK$35.19 mln

New World Development (0017) and New World China Land (0917) said in a joint statement that New World China Land would acquired two domestic properties from two fully-owned subsidiaries under Lee Hing Development (0068) at a price of HK$35.19 mln, while New World China Land would place 10.91 mln New World China Land shares to the seller at HK$3.225 each to pay the deal.

The placed shares, with its price about 0.78% premium of the closing price last Thursday, accounted for 0.74% of the issued stocks. New World Development diluted its shares in New World China Land from 70.54% to 70.02% after the deal.

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